.2 minutes read Last Updated: Sep 27 2024|11:56 PM IST.Possession management firm SBI Administration has actually purchased office space extending 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, depending on to real estate records platform Propstack.The company did not reply to an inquiry coming from Business Requirement. Go here to associate with our team on WhatsApp.The bargain comes with an opportunity when India's office market is actually watching significant demand.A couple of days earlier, Adar Poonawalla, chief executive officer of Serum Principle of India as well as proprietor of Increasing Sun Holdings, got the initial flooring of Cerebrum IT Park in Pune for Rs 395 crore. According to current reports, ICICI Prudential Asset Monitoring Business got into a huge office space bargain near Mumbai International Flight Terminal for Rs 315 crore. In yet another mega offer, Kinnteista, investor Rekha Jhunjhunwala's agency, supposedly purchased business space in BKC and also Chandivali in Mumbai for Rs 740 crore. Also, Reddish Fox IT Infra, a subsidiary of Redbrick Workplaces, is actually found out to have actually purchased many office in Mumbai in a Rs 260-crore package..Nonetheless, many of the office deals are in leasing. Home working as a consultant Cushman & Wakefield, in a recent file, stated that leasing across the leading eight areas is expected to exceed 80 million square feet in 2024. This is actually being actually driven through a combo of factors, including the continuing growth of industries like IT and monetary companies.To name a few, Deloitte Shared Companies rented 80,000 square feet of office space in Oberoi Commerz III, Mumbai, earlier this month. The lease is actually anticipated to start on November 1.Morgan Stanley likewise leased 1 million square foot of office space in the same facility in Mumbai just recently. The yearly rental fee, extending over a 10-year time period, is actually predicted at Rs 192 crore, with a security deposit of Rs 104.9 crore, according to reports.In Bengaluru, realty gamer RMZ Firm rented 360,000 square foot of office space to Chevron Global Technology and Companies at RMZ Ecoworld 30-series just recently. Chevron is actually expected to put together an engineering and advancement excellence centre within this area.In the first fifty percent of 2024 alone, leasing task reached 41.9 thousand sq ft, working with the highest leasing volume captured for the initial one-half of any sort of year thus far, depending on to market data. This number make up 56 per cent of the complete gross leasing volume (GLV) for 2023.1st Published: Sep 27 2024|11:56 PM IST.